International Conference on Defence Finance and Economics 2023

International Conference on Defence Finance & Economics: It is a conference organized to strengthen the country’s Defence Preparedness through effective allocation and utilization of budgetary and other financial resources. International Conference on Defence Finance & Economics is also important for UPSC Prelims Exam 2023 and UPSC Mains Exam (GS Paper 3- Internal Security and Union Budget).

International Conference on Defence Finance & Economics in News

Recently, the International Conference on Defence Finance & Economics was organized in New Delhi. The conference was inaugurated by Raksha Mantri Shri Rajnath Singh and continued for three days.

International Conference on Defence Finance & Economics 2023

The primary goal of the conference is to encourage dialogue and cooperation among participants and bolster the country’s defence preparedness through the judicious allocation of financial resources and effective implementation of the Defence Budget. The event seeks to engage in global discussions on Defence Finance & Economics and formulate a sustainable plan on the subject.

• Mandate: The conference aims to disseminate the best practices, experiences, and expertise from a range of countries, and harmonize Indian processes with international standards.
• Organizing Ministry: International Conference on Defence Finance & Economics 2023 has been organized by Ministry of Defence (Finance).
• Participation: The International Conference on Defence Finance & Economics saw participation from delegates hailing from a range of countries, including the USA, UK, Japan, Australia, Sri Lanka, Bangladesh, and Kenya.

Focus Areas in Conference on Defence Finance & Economics

The discussions at International Conference on Defence Finance & Economics 2023 focused on the present obstacles and prospects in the domains of Defence Finance and Economics’

• Discussions emphasised on-
  • Efficient resource allocation and utilization,
  • Cost-effective logistics management,
  • Various global models and practices of Defence Acquisition finance and economics, and
  • Recent advancements in Defence Research and Development.
• The talks also covered the-
  • Effective management of human resources in Defence, including matters concerning the compensation, retirement benefits, and well-being of Defence Personnel, as well as
  • Functions of oversight mechanisms within defence ecosystems.

Significance of the Conference

The upcoming International Conference on Defence Finance & Economics will offer a forum for distinguished policymakers, scholars, and government officials from both domestic and international backgrounds to exchange their perspectives and knowledge on Defence Finance and Economics. This discussion will take place within the broader context of developing security challenges and policies worldwide.

India-Africa Defence Cooperation

India-Africa Defence Cooperation

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